People's Pilot, Volume 2, Number 24, Rensselaer, Jasper County, 2 December 1892 — HE SPECULATED IN WHEAT. [ARTICLE]

HE SPECULATED IN WHEAT.

Collapse of a Toledo Firm Michigan Bank Also Dragged Down. Detroit, Mich., Nov. 29.—A Toledo (0.) dispatch says that the lumber firm of Bills & Koch has assigned its business to E. W. Loud, of Detroit, on a claim of $54,000 for cash procured on accommodation paper. Other creditors have since filed claims swelling the total liabilities to $150,000. Assets thus far are estimated at SBB,OOO. The Ketcham national bank has a claim of $6,000. Mr. Bills, senior member of the firm, is also interested in a bank and lumber business with his brother-in-law, L. B. Church, at Alma and Ithaca, Mich., which is transacted under the name of Church, Bills & Co. It is said that Mr. Bills has been unfortunate in wheat speculation. He has drawn from the business of Bills & Koch within the last few days over $25,000 in cash. Tecumseh, Mich., Nov. 29. The bank of O. P. Bills & Co. at this place closed its doors Monday morning. Mr. Bills, the senior partner, is also interested in a Toledo house and has large investments in shipping. Mr. Bills refuses to make any statement other than that the bank is all right